Hyderabad: HMDA e-auction evokes lukewarm response

HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) received a lukewarm response for Wednesday's e-auction.  Out of 38 land parcels spread across Rangareddy, Sangareddy and Medchal-Malkakgiri districts, the planning body could sell only nine stray bits to an extent of 32,730 sq.yds, from which it garnered revenue of Rs 195. 24 crore. Citing this, authorities informed that phase 2 of the stray bits will be issued in three days.

HMDA conducted the e-auction of stray bit land parcels pertaining to the three districts in two sessions through MSTC. Of the nine stray bits that were sold on the day, three were in Rangareddy, four in Medchal-Malkakgiri and two in Sangareddy.

The highest price received was Rs 1,11,000 per square yard.